Alphabet — Shares fell more than 3% after the Google-parent company’s most recent earnings report fell short of analyst estimates. According to consensus projections from Refinitiv, Alphabet made $1.05 per share, which was less than the $1.18 per share predicted. Less than the expected $76.53 billion in sales was reported, at $76.05 billion.
Apple – After the computer giant failed estimates for revenue, earnings, and sales for many of its business lines, its stock fell by approximately 2% in premarket trading. The holiday quarter saw a 5% year-over-year fall in Apple’s overall sales, the company’s first top-line decline since 2019.
Amazon – Following the release of the e-commerce behemoth’s fourth-quarter results, Amazon saw a 4% decline. Despite the company’s quarterly sales exceeding analysts’ predictions, current-quarter guidance fell short of projections. The online retailer projects that between $121 billion and $126 billion will make up its first-quarter revenue. According to Refinitiv, analysts were anticipating revenues to total $125.1 billion.
Ford – After the automaker released profits that drastically fell short of Wall Street’s expectations, the shares of Ford fell 6.5%. While analysts surveyed by Refinitiv projected adjusted earnings per share to be 62 cents and revenue to be $40.37 billion, the automaker reported adjusted earnings per share of 51 cents on $41.8 billion in revenue. Additionally, the corporation reported net profits that were more than $1 billion lower than the prior year.
Starbucks — After the business’s results report fell short of forecasts, the stock of the multinational coffee corporation dropped 2.10%. Starbucks’ earnings per share came in at 75 cents vs the 77 cents expected by Refinitiv analysts. Additionally, revenue barely reached $8.71 billion as opposed to the $8.78 billion Refinitiv forecasts. The results were hampered by weakening global demand, notably in its second-largest market, China.
Qualcomm: The semiconductor company’s stock plummeted by over 3% after its top line underperformed during the first quarter of its fiscal year. During the quarter, Qualcomm’s revenue decreased by 12% from the prior year. The company blamed the macroeconomic environment and increasing channel inventory for its poor performance. Over the past year, the company’s stock has decreased by 24%.
— Nordstrom After The Wall Street Journal revealed that activist investor Ryan Cohen is amassing a sizable stake in the company, Nordstrom stock increased by 27%. According to the article, which relied on sources with knowledge of the situation, Cohen will advocate for board changes at Nordstrom as a result of a precipitous decline in stock price.
The maker of cleaning supplies Clorox saw a boost in its stock price before the bell on the strength of solid quarterly results. On revenue of $1.72 billion, Clorox reported fiscal second-quarter earnings of 98 cents per share, excluding items. According to Refinitiv, analysts had predicted earnings of 65 cents per share on revenue of $1.66 billion.